The market has had a volatile trading session to basically come off its intra-day high and has finally ended the day in positive territory. Banks, Pharma, Auto, Consumer Durables, Capital Goods & IT have ended positive in varying degrees while FMCG, Metal, Oil & PSU sector have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed subdued.
Sensex (Daily)
Last Close - 10923.16 | Support - 10884, 10740 | Resistance - 10947, 11052
Trading Range - The Sensex opened at 10929.03, moved up to an intra-day high of 11081.90, declined to an intra-day low of 10875.87 and closed at 10923.16.
Review/Outlook - The Sensex has run into stiff selling pressure at higher levels and has declined from its intra-day high to still end in positive territory on distinctly higher volume but has still failed to close above the 11000 level. The outlook has seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts would seem to suggest inconclusive movements, a downside below the 10875 level cannot be ruled out - intra-day resistance comes in at the 10940 11000 level.
Bombay Burmah. (Daily)
Last Close - 291.60 | Support - 265, 242 | Resistance - 315, 437
Trading Range - The scrip opened at 289.90, moved up to an intra-day high of 291.60, declined to an intra-day low of 287.00 and closed at 291.60.
Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Rel. Ind. Infra. (Daily)
Last Close - 421.40 | Support - 415, 370 | Resistance - 484, 525
Trading Range - The scrip opened at 400.00, moved up to an intra-day high of 421.40, declined to an intra-day low of 400.00 and closed at 421.40.
Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Bhartiya Int. (Daily)
Last Close - 126.80 | Support - 116, 101 | Resistance - 128, 147
Trading Range - The scrip opened at 124.80, moved up to an intra-day high of 126.80, declined to an intra-day low of 124.80 and closed at 126.80.
Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Aegis Logis. (Daily)
Last Close - 143.40 | Support - 133, 111 | Resistance - 155, 183
Trading Range - The scrip opened at 139.70, moved up to an intra-day high of 143.40, declined to an intra-day low of 139.70 and closed at 143.40.
Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Daily Stock Track
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
856, 829 |
861.95 |
892, 924 |
Tu |
|
DR. REDDY |
1400, 1342 |
1407.95 |
1466, 1514 |
Tu |
|
HLL |
224, 216 |
224.80 |
240, 252 |
Sd |
|
INFOSYS |
1661, 1625 |
1670.20 |
1727, 1800 |
Sd |
|
ITC |
168, 155 |
171.50 |
180, 190 |
Tu |
|
RIL |
977, 949 |
988.20 |
1001, 1024 |
Sd |
|
SATYAM |
752, 730 |
763.20 |
770, 810 |
Tu |
|
SBI |
830, 809 |
830.10 |
850, 871 |
Tu |
|
T MOTORS |
749, 722 |
769.10 |
771, 811 |
Sd |
|
TISCO |
500, 480 |
509.60 |
530, 550 |
Sd |
GLOSSARY: CMP - Current Market Price, MACD - Moving Average Convergence Divergence, RMI - Relative Momentum Index, RSI - Relative Strength Index, ROC - Rate of Change, EMA - Exponential Moving Average, Cls - Closing Price, Support - Level where buying can be expected, Resistance - Level where selling can be expected, Tu - Turning Upwards, Td - Turning Downwards, Sd - Sideways, Up - Uptrend, Dt - Downtrend, Ob - Overbought, Os - Oversold.
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Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.
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